A residence permit for financially independent persons gives resident status to citizens of non-EU countries who want to permanently reside in Italy without the need to work or conduct commercial activities.
The residenza elettiva residence permit in Italy is suitable for wealthy foreigners who have a stable passive source of income outside of Italy. Initially, the applicant receives a national Visa D, which allows him to travel to Italy and obtain a residence permit.
Advantages of residence permit in Italy “residenza elettiva”
✔ Year-round residence, unlimited entry and exit from Italy The holder of a residence permit has the right to permanently reside in Italy, as well as to enter and leave the territory of Italy without restriction
✔ Freedom of movement in the Schengen countries A resident card of a Schengen country allows you to move and stay in each Schengen country for 90 days
✔ Residence permit for the whole family The Italian resident card is also eligible for the spouse and children.
✔ No language proficiency requirement An applicant for a residence permit does not need to prove proficiency in the Italian language or take exams for proficiency in Italian.
✔ No investment There are no requirements for buying real estate, starting a business or investing.
✔ Education for children Having received a residence permit in Italy, your children will be able to study not only in private, but also in public schools in Italy.
✔ Access to national medicine As a resident of Italy, you also have access to national health care.
✔ Opportunity to receive a unique tax benefit on the principle of Non Domiclied Resident.
✔ Permanent residence and Italian citizenship After 5 years of residence, you can receive permanent residency, and after 10 years – apply for Italian citizenship and passport.
Basic conditions for obtaining a residence permit in Italy
Regular passive income
The minimum required income is from 31,000 euros per year for an individual applicant.
For a family of 3-4 people – an annual income of about 100,000 euros.
The minimum income must be fully derived from passive sources: rental income from movable or immovable property, royalties, dividends, monthly pension payments.
from 40,000 € for the main applicant.
Place of residence in Italy
It is necessary to confirm that you have a place of permanent residence in Italy, this can be:
Long-term rental housing for at least 12 months.
Or purchasing real estate in Italy for any amount.
If the applicant buys real estate to live in Italy, the Italian Embassy will take into account the “minimum economic requirements” established by Italian law (from 31,000 euros per year).
The applicant must have international health insurance (valid in all Schengen countries) with a minimum coverage of EUR 30,000 to cover costs including emergency hospitalization.
Demonstrate the applicant’s real intention to reside permanently in Italy
The applicant must demonstrate that he really wants to settle in Italy, remains in the country for more than 183 days a year and have a place of permanent residence.
If you have lived in Italy for less than 183 days a year, then your residence permit may not be extended. And if you are absent 6 months in a row in Italy, then your permesso di soggiorno may be canceled.
Your family is also eligible for a visa and Italian resident card.
Your spouse and minor children may join you. Adult children can also obtain a residence permit, provided that they are incapacitated or not married and are dependent on their spouses or one of them.
Confirmation of the absence of criminal records, deportations and other immigration violations.
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Other conditions of residence permit in Italy 'residenza elettiva'
Period of validity of the residence permit in Italy
Initially, the residence permit is issued for 1 year and is renewed annually by the Police Department (Questura). With each renewal, you must provide proof of permanent passive income and that you have lived in Italy for more than 183 days a year.
Permanent residence and Italian citizenship
After five years of legal residence, you have the opportunity to apply for a permanent residence permit (permanent residence) in Italy And to obtain citizenship and a passport of Italy, you must live in the country for 10 years. Italian law does not prohibit dual citizenship.
Tax residency in Italy
Permanent residence in the country is a sufficient basis for the recognition of a foreigner as a tax resident of Italy.
Since according to the conditions of a residence permit for the motive of “residenza elettiva” a foreigner must reside in Italy on a permanent basis, accordingly the tax authorities of the country consider you a tax resident of Italy, and you must declare and pay taxes on income, wherever they are received (in accordance with the “universal principle”).
That is, tax residents of Italy are subject to taxation on income generated both in Italy and on foreign income (for example, income from real estate outside Italy, dividends, interest and other foreign income).
Persons who are recognized as tax residents in Italy can receive a Non Domiclied Resident tax credit and their income from non-Italian sources will be taxed in Italy at a flat rate of € 100,000 per year.
We accompany all the client's actions related not only to obtaining a residence permit in Italy for the entire family, but at the same time we provide a full range of services for confirming the source of funds, purchasing or renting real estate in Italy, opening a bank account, international tax planning, enrollment services for children to educational institutions abroad!
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What is residenza elettiva in Italy?
Residenza elettiva is an immigration procedure that allows a foreigner, who has a stable passive income, to reside in Italy without performing work.
Also called a residence permit for financially independent persons without the right to work.
How to obtain a residence permit in Italy for financially independent persons "residenza elettiva"?
Citizens from non-EU countries can obtain a residence permit in Italy – residenza elettiva, who can confirm the availability of sufficient funds to live in Italy from 31 thousand euros per year for the main applicant, have a residence in Italy owned or rented, health insurance, and good reputation (no convictions, deportations and other migration violations).
Is it necessary to buy real estate to obtain a residence permit in Italy?
Buying real estate in Italy is not a mandatory requirement for obtaining a residence permit. However, in the case of buying real estate in Italy, the Italian Embassy applies minimum financial criteria for earnings – from 31,000 euros per year for an individual applicant.
Do I need to permanently reside in Italy with a residence permit for the residenza elettiva category?
To maintain the status of a resident and to renew it, the absence from the country must not exceed 6 consecutive months.
If you are interested in obtaining a residence permit in Italy without the need for permanent residence there, then an investor visa (Permesso di soggiorno per investitori) is suitable for you.
To obtain a residence permit in Italy through the Investor Visa program, the applicant needs to invest from 250,000 €.
Is it possible with "residenza elettiva" to obtain Italian citizenship?
Yes, after 10 years of residence, you can apply for Italian citizenship and passport. The country’s legislation allows for a second citizenship, so an Italian passport can be issued as a second and there is no need to renounce the first citizenship.
What other EU countries have alternative programs for obtaining a residence permit for financially independent foreigners?
There are programs for obtaining a residence permit without investment in the following EU countries: Austria, Portugal, Spain, Greece, France and Cyprus.
In 2006 graduated from the National Aviation University (NAU), Kiev with a degree in Philology, Translation. Irina Lugina has many years of successful work experience in large companies with a voluminous workflow. Within Feod Group specializes in: visa support by category for financially ...
In 2006 graduated from the National Aviation University (NAU), Kiev with a degree in Philology, Translation. Irina Lugina has many years of successful work experience in large companies with a voluminous workflow. Within Feod Group specializes in:
visa support by category for financially independent foreigners, visas for entrepreneurs and investors in the EU, Great Britain and the USA.
preparation and compliance of packages of documents for registration of companies in low-tax jurisdictions, opening bank accounts.
obtaining a residence permit and permanent residence in Ukraine on the basis of marriage and through company registration.